Barcelona have warded off interest from mega-rich PSG by securing Neymar on a new five-year deal on Friday.

Neymar’s new deal will keep him at the club until 30 June 2021 with the club providing an increased buyout clause on a sliding scale.

The player’s buy-out clause has been fixed at €200-million for the first year of his contract, €222m for the second and €250m for the remaining three years.

The Brazilian, who was confirmed as part of his country’s Olympic squad, will sign the deal on July 15 before heading home to compete for gold.

Neymar arrived in Spain from Brazilian club Santos for whom he had played against the Blaugranes in the Club World Cup final of 2011 which Barca won 4-0.

After three seasons with the Catalan giants, Neymar has blossomed alongside Luis Suarez in support of Lionel Messi. In 141 games for the club he has scored 85 goals; 15 in his first season, 39 in his second and 31 in his third. The Brazilian finished third in the 2015 Ballon d’Or award behind Messi.

Neymar has won the league twice, the Copa del Rey twice, the European Super Cup, the Spanish Super Cup and the Club World Cup.